Despite the absence of specific legislation mandating the use of open banking in the U.S., this practice is growing across the country. Open banking — when banks and financial institutions provide third parties with access to customers’ financial data — allows third parties to initiate...
Oversight of crypto assets is a hot regulatory topic in the U.S. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...
The Australian Competition & Consumer Commission (ACCC) has brought proceedings against Mastercard for allegedly engaging in anticompetitive practices, according to a Monday (May 30) press release. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
Attorneys for the online trading platform Robinhood Markets say they’ve come to an agreement in principle that resolves a lawsuit by investors who say they were blocked from trading during an outage in March 2020. Get the Full Story Complete the form to unlock this...
This week, U.S. policymakers and regulators made their cases on crypto assets and central bank digital currencies (CBDCs). While regulators tend to be very skeptical about cryptocurrencies, even saying that the digital assets depend on “hype,” the position on CBDCs is more positive. Lawmakers, on...
Sanctions have been dominating headlines. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive...
The Consumer Financial Protection Bureau (CFPB) wants to remind consumers that federal law requires companies to explain specific reasons for denying credit applications, even when the creditor employs credit models using complex algorithms, according to a Thursday (May 26) press release. Get the Full Story...
Today in TechREG, Lael Brainard, vice chair of the Federal Reserve, on Thursday (May 26) told Congress in a hearing about the benefits and risks of having a U.S. central bank digital currency (CBDC). While her remarks were carefully crafted to not show any policy...
The Consumer Financial Protection Bureau (CFPB) announced on Wednesday, May 25 in a blog post that it has sent letters to the nation’s biggest credit card companies to question them about why they are not regularly providing data to credit bureaus on the actual monthly...
